“Home buyers today are motivated by both emotional and practical reasons,” says D. Steve Boland, the consumer lending executive. “Nearly all want more space, but a majority of home buyers, especially those purchasing their first home, are also looking for a place to call their own, put down roots and make memories. They value the emotional benefits of owning a home as much as financial ones.”
The survey revealed the following top emotional triggers for buyers:
Want a place to call their own: 52%
Always something they wanted to do: 43%
Want to put down roots: 31%
A place to make memories: 28%
As for the most influential financial factors, the survey found Americans are motivated to buy a home for these reasons:
Better than paying rent: 37%
Saved enough money: 26%
Have a steady job: 21%
Good time to buy a home: 15%
Survey respondents also were asked to define home ownership. Here’s what they said it means to them:
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